073 Economics

07/22/2013

"Since the details of the NSA programs became publicly known a short time ago, already there are signs of market pressures being brought to bear to curtail the actions of the agency and its partner companies. There are early signs of emerging boycotts of US-based internet and telecommunications companies, and customer migration to firms operating outside the United States.[1] One observer has even suggested that the next desirable IT feature will be for host companies operating outside the US to advertise that they are ‘not subject to US law’ and this suggestion is gaining traction among IT commentators. According to one commentator, ‘The biggest concern right now is that if US firms lose their credibility, people in other countries might look to take their business elsewhere. Government officials have been desperately trying to cover their tracks at home, insisting that PRISM is about spying on foreigners and not US citizens, but how does the rest of the world feel about this?’[2]"

This illustrates one of the outstanding features of decentralization in the political sphere, and the ability of decentralized structures to combat government despotism. By engaging in mass surveillance of foreigners through US companies, the US government has now put the entire telecommunications and computing industry of the US economy at a competitive disadvantage against any other country willing to impose stronger privacy standards on its own security agencies...

07/17/2013

Baltimore, MD -- Jimmy Hoffa was the leader of one of the most influential labor unions in the country when he disappeared in 1975. Seven years later, the authorities declared him legally dead, and there's been speculation ever since about where he ultimately ended up. In fact, there was a running joke that he was buried at the 50-yard line of the old Giants Stadium.

The real question, however, is whether this former labor leader would be spinning in his grave if he found out his modern-day successor was railing against the Democrat currently occupying the Oval Office. Especially when that successor is his own flesh and blood.

07/12/2013

This kind of collectivist extortion happens regularly: "According to a Washington Post report, Marvin Horne, 68, stopped giving the government his raisins in 2002 and now 'owes the U.S. government at least $650,000 in unpaid fines,' in addition to '1.2 million pounds of unpaid raisins, roughly equal to his entire harvest for four years.'

Horne violated Marketing Order 989, passed during the Truman administration, 'a federal regulation meant to solve a problem from the era after World War II, which created the national raisin reserve. The program gives the U.S. government a heavy-handed power to interfere with the supply and demand for dried grapes' and takes 'away a percentage of every farmer’s raisins' without paying for them. The law has been described as one that gives the government the power to operate a cartel.

The government can save the raisins, sell them to foreigners, throw them away, or even feed them to animals -- so long as they are off the domestic market. "

07/08/2013

"That the US economy is in turmoil and the dollar’s world reserve status is under unprecedented threat is a given.

What’s not clear is where the machinations of government and global banking cartels will lead, and when.

But we know the breaking point is coming.

According to Shadow Stats founder John Williams, who has taken a unique approach to analyzing fundamental economic data well beyond official government statistics, we will soon begin to see the fruits of the monetary and financial games taking place behind the scenes.

Unfortunately, the end result is not going to be recovery. Far from it. As Williams notes in his latest report, what we should expect is continued degradation throughout this year and into 2014, at which point a hyperinflationary environment will take hold."

"The productive people of this world are being abused. We all know it and we all complain about it. And most of the things we complain about (taxes, stupid laws, politicians and bureaucrats doing ridiculous things) are backed by large, powerful systems. That is why I chose ‘systemic abuse’ for this article’s title.

The idea of a system being abusive by nature often bothers people in a deep and obscure way, but that characterization is true. If we try to blame ‘one bad actor,’ we are lying and we know it.

I’m not going to waste time on the abuses of the current world systems. You must be aware of them, and you can get lists of complaints from many other sources.

Instead, I want to explain how we producers are really the controlling group in the world, even though most of us don’t know it. We as a group can end our abuse whenever we change our minds about it, and we as individuals can do a lot to bring that about.

But in order to face a life without abuse, each producer will have to do some serious soul searching and adjustment. That sounds strange, I know, but it is true. It will become clearer as we proceed."

07/02/2013

Fox news is now reporting that "The Obama administration announced Tuesday that it is delaying a major provision in the health care overhaul, putting off until 2015 a requirement that many employers offer health insurance."

ObamaCare is now officially falling apart, but we still have work to do. The first sign that you are winning is when deadlines start being pushed back, but we can't give them a chance to regroup. While we have won a decisive battle, the war is still on. Push hard now to end it so your resources can be better allocated for future needs. Whatever you do, don't stop pushing now...

06/25/2013

"An international firearms dealer said the White House is blocking ammunition sales to American citizens as federal agencies continue to stockpile.

‘There are elements in the United States government moving to obstruct commercial ammunition sales,’ said Anthony Melé, an international firearms dealer and owner of AMI Global Security, LLC. AGS is a defense trade and manufacturer’s exporter registered with the U.S. Department of Defense and the United Nations.

The Bureau of Alcohol, Tobacco, Firearms, and Explosives denied AGS’s application for an ammunition-order by designating typical rifle rounds as armor piercing if they are made with a steel core instead of a lead core, he said. ‘They designated the ammunition AP, defined as armor piercing, even though the ammunition being supplied cannot pierce armor.’"

06/14/2013

"[On October 27, as East Coast residents prepared for Hurricane Sandy, New Jersey Governor Chris Christie threatened 'price gougers' with stiff penalties. As David Brown pointed out in Mises Daily on August 17, 2004, shortly after Hurricane Charley hit Florida, foul weather is when we need market prices the most. Capitalism needs more foul-weather friends, not fair-weather friends like Christie.]"

06/13/2013

"In his famous “you didn’t build it” speech, President Obama cited the Internet, fire departments, the GI Bill, the Golden Gate Bridge and the Hoover Dam as examples of government action that helps business owners…"

In his famous “you didn’t build it” speech, President Obama cited the Internet, fire departments, the GI Bill, the Golden Gate Bridge and the Hoover Dam as examples of government action that helps business owners - See more at: http://lfb.org/today/obama-is-wrong-about-the-hoover-dam/?utm_source=rss&utm_medium=rss&utm_campaign=obama-is-wrong-about-the-hoover-dam#sthash.obvqIdR6.dpuf

In his famous “you didn’t build it” speech, President Obama cited the Internet, fire departments, the GI Bill, the Golden Gate Bridge and the Hoover Dam as examples of government action that helps business owners - See more at: http://lfb.org/today/obama-is-wrong-about-the-hoover-dam/?utm_source=rss&utm_medium=rss&utm_campaign=obama-is-wrong-about-the-hoover-dam#sthash.obvqIdR6.dpuf

Another important question is "Was the cost of continual failure (see article) worth the price?" Could that capital and those resources not have been better spent in the private sector, a sector that needs to make a profit, and that can't continually extort others to use its goods and services?

"Have you ever been at a bar or some other public place and had to overhear some goober talking nonsense that wasn't just offensive but also aggressively stupid? We've all been there: listening to some idiot spout off on something that we know to be patently, embarrassingly wrong... I found myself in just such a situation as I wrote the blog at my neighborhood bar earlier.

I had been talking to Kerry Lutz on his show just a few hours before about how the internet is making people smarter about the inherent problems caused by the state. Then I went to a local bar to get internet access (because the internet at my new place won't be turned on till tomorrow) and had to overhear some asshat talking to his date about about social justice, the evils of Walmart, how paying less for stuff actually hurts people and how Jon Stewart is so smart. The guy was a bit of an ogre. Well over six feet tall with a deep, stentatorian voice, the kind that is impossible to ignore if you're within a ten-foot radius, even if he's trying to keep it down. With his "Daily Show" views, height and powerful voice, I suspect a future in politics for him. "

04/01/2013

Freedom in the 50 States 2013 : "If you're looking for freedom, which state should you live in? Government oppression at the state level comes in various forms and levels. Since Galt's Gulch doesn't exist, people must prioritize the state intrusions they can live with. For those valuing freedom, the Mercatus Center at George Mason University is providing a new "Freedom in the 50 States"report providing a clue on where to live." - Doug French

03/12/2013

BREAKING: Judge Halts New York City Soda Ban: "A state judge on Monday stopped Mayor Michael Bloomberg‘s administration from banning the sale of large sugary drinks at New York City restaurants and other venues, a major defeat for a mayor who has made public-health initiatives a cornerstone of his tenure."

This is a little ray of sunshine in an otherwise gloomy future. Remember, don't rely on the system to protect your right, you need do that yourself. Start by demanding your rights (all of them) and never compromising on them.

Whatever the ammo may be used for, there can be no doubt that such this action will, at the very least, cause artificial demand and (as we have seen) drive ammo costs through the roof… more importantly, remember that this ammunition is being purchased with money that was first extorted from you. The net result is that you have less funds to purchase ammo with, and because there is an large artificial demand, you will therefore be paying higher price of the ammo that is available on the market. As always, you get screwed twice.

03/06/2013

Is It Time To Take Bitcoin Seriously?: "Bitcoin’s value has steadily climbed over the past few months with no signs of stopping as the currency has managed to avoid major security breaches and expand its digital ecosystem. The dollar value of virtual decentralized cryptocurrency Bitcoin last week reached a new all-time high, eclipsing the previous high of $31.9099, last touched on June 2011."

You MUST SEE this 60 Minutes expose on China's Ghost Cities : "At present, the Chinese economy is a combination of (loosened government restrictions) and bizarre central planning. These ghost cities are heavily financed by local governments and the money that investors use to buy the properties is pumped about by China’s central bank, The People’s Bank of China."

Also understand that the "bubble" that "may break" will break. It is an inevitable consequence of the misallocation of resources that is exacerbated by government intervention.

Where To Go as Swiss are Shutting Out U.S. Taxpayers: "For some years now, Swiss Banks have not been willing to take on U.S. clients because of the aggressive tactics of the U.S. IRS. Since they hauled UBS over the coals for harboring U.S. tax evaders and continue to investigate many Swiss Banks, the IRS has posed a threat to Swiss companies operating in the United States.

No matter where they live in the world, fear of being involved with a U.S. tax evader has put the wind up Swiss companies, and understandably so.

So how should that affect U.S. gold owners? Holdings of gold need not be reported to the U.S. Taxman even under the new tax system, called FATCA."

- Targeting activities 1 (Speak the Truth) and 2 (Legal Resistance) of the Battle Pledge. We are doing our part, how about you?

"Are wars good for science and technology? Do we have many technologies and luxuries we would lack if it weren’t for war and military spending?

The reality, as Peter Klein explains in the March issue of The Free Market (the free PDF here), is that while wars and military spending lead to the refinement of many technological inventions, they also prevent the creation and refinement of many things we might have wanted more. War and militarism also saddle us with many things that make humanity worse off. Like atomic bombs.

Advocacy for war as a driver of human invention is just another variation on the Broken- Window Fallacy. Dr. Klein explains. "

03/05/2013

Jeffrey Tucker: Top Alternatives to Paper Money: "I’ve just left the Liberty Forum in New Hampshire, a three-day gathering of hundreds of people who are trying to find ways of living freer lives in times of despotic control. Among many things, this might be the world center for exhibiting monies of the future."

02/23/2013

National Security and Your Digital Data: "One of the most dangerous threats to liberty and privacy today is called the ‘Cyber Intelligence Sharing and Protection Act,’ or CISPA. The activists slayed this monster last year. Or so it seemed. But of course, the beast didn’t die."

Cheaper Than Dirt Upholds Ban on Gov't Sales: "Recently companies such as LaRue Tactical and Olympic Arms announced they will no longer sell prohibited items to government agencies and personnel in states denying civilians to own those same items. It has been and will continue to be Cheaper Than Dirt's policy not to sell prohibited items to government agencies and agents in states, counties, cities and municipalities that have enacted restrictive gun control laws against their citizens. We support and encourage other companies that share in this sentiment."

02/14/2013

Evidence That Government Is Shrinking: " ‘Hey, whatever happened to the Somali pirates?’ Therein lies a tale… We first spotted it in 2008. As recently as May 2011, we called it a ‘growth industry.’ Now its pioneers, if that’s what you want to call them, have quite literally given up the ship.

Picture yourself aboard the Queen Mary 2, on a voyage through the Red Sea to Dubai. You see a typical cruise-goer on deck in a Hawaiian shirt, sipping a fruity cocktail… right next to a hardened security contractor armed to the teeth.

02/12/2013

One Hundred Years of Intrusions: "Imagine a time when the government knew nothing about the money in your bank. It cared nothing about how much you made, where you made it, and what you did with it. You could take your earnings in gold, silver, paper, or anything else, and never filed a sheet with the government."

How you earned a living was none of the business of the political class. For that matter, your bank account could be under a false name and absolutely no one cared.

This was the world of a mere 100 years ago in the United States. That’s why it was called the “land for the free.”

Obamacare Physician Crunch Has California Politicians Scrambling - Hit & Run: "Back in October, the the American Journal of Medical Quality published a warning that, even as Medicaid is expected to vastly expand the patients it serves across the country under the requirements of the Affordable Care Act, the doctors willing and able to serve those patients are already at capacity. Now, California officials are getting hip to the fact that the state doesn't have enough physicians to go around, and they're scrambling to find pretty much anybody capable of bandaging a boo boo to fill the gap."

Lew Rockwell: A Century of Liberty Ahead? - Liberty Crier: "The Fed was supposed to provide stability to the financial sector and the economy at large. We are supposed to believe it has been a wonderful success. A glance at the headlines over the past five years renders an unkind verdict on this rarely examined assumption."

Mr. Rockwell makes some excellent points here, and guess what? He is not advocating trying the same thing over and over again.

Dr. Sabrin has a point here, and because he is trying something new - something that promotes liberty and trade, (which we know works), - we believe his idea is worthy of implementing in order to try something different.

Why?

Because as we mention in our Two Tribes article, we recognize that trying the same failed policy over and over is futile and a waste of energy and time. Again, if you do the same thing over and over expecting a different result you are meeting Einsteins very definition of insanity.

01/10/2013

Obsessed by Megalomania - Hans-Hermann Hoppe - Mises Daily: "All of us, from childhood, have been moulded by state or state-licensed institutions—preschools, schools, universities. So the result you quoted is not surprising. However, if I asked you whether you said yes to an institution having the last word in each conflict, even in those it is itself involved in, you would certainly say no—unless you hoped to be in charge of this institution yourself."

This second edition includes a new introduction and other new material. It’s his near-classic “hymn to the digital age.”

In fact, the book has been called “the most fun way to learn about liberty now in print.”

Jeffrey argues that we are surrounded by miracles created in the private sector, particularly in the digital universe, and yet we don’t appreciate them enough. Meanwhile, the public sector is systematically wrecking the physical world in sneaky and petty ways that really do matter.

This second edition includes a new introduction and other new material. It’s his near-classic “hymn to the digital age.”

In fact, the book has been called “the most fun way to learn about liberty now in print.”

Jeffrey argues that we are surrounded by miracles created in the private sector, particularly in the digital universe, and yet we don’t appreciate them enough. Meanwhile, the public sector is systematically wrecking the physical world in sneaky and petty ways that really do matter.

I offer you the “Tucker’s Take” for It’s A Jetson’s World. Simply click this link or the image below to watch your “Tucker’s Take” video.

Now think of Congress and the president as the people in a boat pushing the swimmers’ heads back underwater. That’s exactly what they did when they let the payroll tax arrive on the first day of 2013."

Yes America, the only thing the government can do is extort you to give you something of less value in exchange for your hard work and willing servitude. Sorry, you got suckered again. It's a tough lesson to learn, but one that must be learned if you wish to be free.

California’s “Prevailing Wage” – Floor Vacuuming At $45.93/Hour: "California State Assemblyman Curt Hagman (R-Chino Hills) is introducing a bill to address one of the numerous absurdities in California’s prevailing wage law: the $38-46 per hour wage paid to laborers who clean up construction sites after taxpayer-funded construction is finished."

01/08/2013

India's Gold Mania | Laissez-Faire On limiting gold being sold to Indians Douglas French says: "... good luck with that. The people of India have cultural, historical, and traditional reasons to buy gold. They consider it the most valuable asset there is. Indians want to own gold like Americans want to own houses.

Ganesh Rathnam related a story that explains India’s gold obsession. When his father, a pediatric surgeon, wanted to buy land to build a new clinic, he mortgaged his wife’s jewelry to raise the purchase money. ‘Similarly, millions of people in India have capitalized their businesses or farms, or secured their basic necessities after severe business reversals, by pledging their gold jewelry,’ he writes."

01/03/2013

Douglas French states that: "The high priests of the civic religion are very worried that people no longer seem to trust government. The law stands discredited. Once-hallowed institutions are under fire and losing status. People are openly loathing public officials. Movies, television, and best-selling books urge revolt. Most people don’t bother to vote.

And these priests wonder why.

Here’s an example of why. As the year opened, the House, Senate, and president all collaborated to enact the largest tax increase in human history — under the cover of night on the first day of the year, on the 100-year anniversary of the income tax. They did it in the name of saving us from some mythical beast called the ‘fiscal cliff.’

It’s going to take an extra $20-40 or more out of your paycheck per week. If your son or daughter or a thief did that without your permission, you would be mighty upset. But this is what our elected leaders are doing to us, and we have no choice about it."

12/20/2012

In this article Doug French explains that "Gas in Vegas is a dollar cheaper a gallon than in the Golden State, or so a friend and recent LA transplant tells me. He went on to say the top tax rate in California is over 13%, while, of course, Nevada has no state income tax.

Over dinner at Del Frisco’s, he explained how industries are being ruined by runaway government in his old home state. Nevada would surely benefit from businesses making their escape."

12/18/2012

"How secure are property rights if the police can take your stuff and keep it, citing no particular reason at all? Not very secure. This is the way police work in the developing world. Of course, this practice is increasingly common in the U.S. too."

12/14/2012

I (Silent Bob) personally love the Laissez-Fare Club, a great place to dig deeper into human action.

Today Art Corden asks: "Imagine you have a friend who is completely unfamiliar with economics. Imagine further that he says he is going to read exactly 99 pages of economics and no more. What would you suggest that he read? I submit that Faustino Ballve’s Essentials of Economics: A Brief Survey of Principles and Policies would be an excellent candidate."

He does a great job explaining why this book is so invaluable in this post at Laissez-Fare Today.

11/14/2012

U.S. Representative Ron Paul, a Texas Republican, talks about U.S.
fiscal policy and prospects for political compromise on the nation’s
budget deficit and debt. He speaks with Trish Regan on Bloomberg
Television’s “Street Smart.”

10/15/2012

You are a business owner sitting in your office finishing up
some paperwork when you hear somebody scream. The scream is immediately followed
by a gunshot, and then all hell breaks loose with more screams as gunshots
begin to ring out successively.

As seconds tick by more lives are shattered, lost, and
families destroyed.

What do you do?

Do you do as the Department of Homeland Security advises,
which is to run, hide, lock yourself in a room, dial 911, and hope for the best
while other innocents are slaughtered around you, only fighting once you have
been caught in the madman’s sights?